Wedbush Issues FY2029 Earnings Forecast for IDEAYA Biosciences

On February 13th, 2025, analysts from Wedbush released their earnings forecast for IDEAYA Biosciences, Inc. (NASDAQ:IDYA). Expert R. Driscoll from Wedbush anticipates the company will achieve earnings of $1.20 per share in FY2029. The firm maintains an 'Outperform' rating for IDEAYA and has set a price target of $52.00 per share. In contrast, the current consensus expectation for IDEAYA's full-year earnings stands at a loss of $2.45 per share.

IDEAYA Biosciences disclosed its quarterly earnings results on the same day, reporting earnings per share (EPS) of ($1.49). This figure fell short of analysts' predictions, which estimated a loss of ($0.67) per share, representing a miss of ($0.82). During the quarter, the company recorded revenues amounting to $7 million, which met the consensus estimate.

Other investment firms have also shared their views on IDEAYA. UBS Group initiated coverage on the company in October 2024, assigning a 'buy' rating with a target price of $50. Royal Bank of Canada reaffirmed an 'outperform' rating with a price goal of $61 in January 2025. Conversely, Leerink Partners downgraded the stock from 'strong buy' to 'hold' in November 2024. Oppenheimer also reiterated an 'outperform' rating with a target price of $53, while Stephens maintained an 'overweight' rating and a price objective of $50. Overall, two analysts rate the stock as 'hold', thirteen as 'buy', and one as 'strong buy', leading to a consensus rating of 'Moderate Buy' with an average price target of $53.58, according to MarketBeat.com data.

IDEAYA Biosciences Stock Performance

On February 18th, IDEAYA stock opened at $21.00. It has seen a 12-month trading range with a low of $20.63 and a high of $47.74. The company boasts a market capitalization of $1.82 billion, with a price-to-earnings ratio of -9.01 and a beta of 0.82, indicating moderate volatility.

Institutional Investor Activity

Several institutional investors have recently adjusted their positions in IDEAYA. KBC Group NV increased its stake by 29.1% during the third quarter, now holding 2,274 shares valued at $72,000 after acquiring an additional 513 shares. Amalgamated Bank raised its position by 22.9%, owning 2,840 shares worth $90,000 after buying 530 shares recently. Rhumbline Advisers increased its stake by 0.5%, totaling 113,561 shares valued at $2.92 million after purchasing 585 more shares. Additionally, US Bancorp DE boosted its holdings by 67.2%, bringing its total to 1,714 shares worth $54,000 after acquiring another 689 shares. Mirae Asset Global Investments Co. Ltd. increased its holding by 35.2%, owning 3,056 shares valued at $94,000 following additional purchases. Currently, hedge funds and other institutional investors hold approximately 98.29% of the company's stock.

About IDEAYA Biosciences

IDEAYA Biosciences, Inc. specializes in precision medicine with a focus on synthetic lethality in oncology. The company is dedicated to discovering and developing targeted therapies using molecular diagnostics within the United States. Some of its investigational drugs include IDE196, a protein kinase C inhibitor undergoing Phase 2/3 trials for cancers linked to GNAQ or GNA11 mutations; IDE397, a methionine adenosyltransferase 2a inhibitor in Phase 1/2 trials for solid tumors with specific gene deletions; and IDE161, a poly ADP-ribose glycohydrolase inhibitor in a Phase 1 trial targeting tumors marked by homologous recombination deficiency (HRD).

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